& cplSiteName &

Contec Bolts From Bankruptcy

Jeff Baumgartner
LR Cable News Analysis
Jeff Baumgartner
11/5/2012
50%
50%

Cable set-top and modem repair outfit Contec Holdings Ltd. has exited Chapter 11 bankruptcy protection, completing a reorganization that cut its debt pile by $250 million and, in addition, attracted an investment of $25 million.

Bain Capital -owned Contec announced the bankruptcy exit Monday, but it became effective Friday, Nov. 2.

The Schenectady, N.Y.-based company filed for Chapter 11 on Aug. 29 with debts of more than $360 million. A Delaware court approved Contec's bankruptcy plan in early October. Most of its 2,300 employees are based in Mexico.

Why this matters
The swift exit from bankruptcy should give peace of mind to operators and vendors that rely on Contec's services. The company repairs more than 2 million cable boxes per year, including devices made by Motorola Mobility, Cisco Systems Inc. (Nasdaq: CSCO), Pace plc , Arris Group Inc. (Nasdaq: ARRS) and Samsung Corp.

With Chapter 11 behind it, Contec can now focus on other moneymaking initiatives, including QuickTest, a platform that can test more than 100 devices per hour, streamline the repair process and conduct preventative maintenance so devices that are nearing failure can be identified. Contec has signed Charter Communications Inc. as an early QuickTest customer and has contract talks under way with several other cable operators, company officials told Light Reading Cable at last month's Society of Cable Telecommunications Engineers (SCTE) Cable-Tec Expo in Orlando. (See Contec Puts Set-Tops to the Test.)

For more



— Jeff Baumgartner, Site Editor, Light Reading Cable

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
The 'gleaming city on a hill,' Steve Saunders calls it. But who is going to take us from today's NFV componentry to the grand future of a self-driving network? Here's a look at the vendors hoping to make it happen.
Flash Poll
Upcoming Live Events
September 28, 2017, Denver, CO
October 18, 2017, Colorado Convention Center - Denver, CO
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 10, 2017, The Westin Times Square, New York, NY
November 30, 2017, The Westin Times Square
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Could the Connected Car Help Prevent Terrorism?
Dan Jones, Mobile Editor, 9/15/2017
Cities Slam FCC on Broadband Proceedings
Mari Silbey, Senior Editor, Cable/Video, 9/15/2017
Apple's New iPhones: No Gigabit LTE for You!
Dan Jones, Mobile Editor, 9/14/2017
1 Million Pirate Set-Top Boxes Sold in the UK
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 9/20/2017
Close the Loop to Automate Service Assurance
Carol Wilson, Editor-at-large, 9/14/2017
Animals with Phones
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed